Be Sure to Fund your Living Trust

There’s nothing like the satisfaction that comes from finishing a well done job. Unfortunately, there are some who have finally taken that step to create a Living Trust, but don’t take the final and most important step of “Funding the Trust.” This means transferring title to your property correctly into your Living Trust. This is the “finishing step” of creating a Living Trust.

I have often heard from people who long ago paid to take the step of creating a Living Trust, or Revocable Trust, but never changed the title of their property to the name of the Trustee of the Living Trust. Others purchase property, or other investment items after creating the Living Trust, but never change the name on the property to their trust.

After the hard work of carefully writing such an important, individual and private document, you really want to “finish the job.” When I help a client create an Estate Plan, I always include assistance to fund the Living Trust. Once the Living Trust is funding, I know it is a job “well done.”

Ronald Cole